Canadian Building Permits MoM (Nov) M/M -13.1% vs. Exp. -6.5% (Prev. 15.7%, Rev. 14.9%)

The sharp drop in Canadian building permits by 13.1% in November, far exceeding expectations of a 6.5% decline, signals a notable downturn in construction activity.

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US Supercore Inflation (Dec): 2.7% (prev. 2.7%)

US Inflation M/M 3dp (Dec): Headline 0.307% (prev. 0.204%), Core 0.239% (prev. 0.159%)

Canadian Building Permits MoM (Nov) M/M -13.1% vs. Exp. -6.5% (Prev. 15.7%, Rev. 14.9%)

JPMorgan (JPM) CFO says loss of Fed independence often leads to steeper yield curves and damages economic dynamism

US Average Weekly Prelim Estimate ADP (4-week, w/e 20th Dec) +11.75k (Prev. +11.5k, Rev. +11k)

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This suggests potential softening in the housing market and could influence monetary policy considerations, particularly around interest rates and economic growth forecasts.

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